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The National
4 hours ago
- The National
My Dubai Salary: ‘I don't take a monthly wage but earn incentives every quarter as a tech start-up founder'
Sophie Smith recalls how she decided to never be financially dependent on anyone while growing up in the UK. However, as the founder and chief executive of Nabta Health, a UAE-based healthcare platform for women, she has not drawn a salary in all but several months over the past eight years. As her company is fully backed by angel investors, the Briton, 36, does not feel comfortable receiving monthly pay and instead takes an incentive every quarter. She's currently financially dependent on her husband since moving to Dubai in 2016. Before founding Nabta Health, Ms Smith owned four companies in three years – a doctor-finding, appointment-booking platform in Pakistan, a plastic recycling company in Sierra Leone, a health tech consultancy and a software development company, both in the UK. Nabta Health combines digital and traditional health care to offer preventive care to women. 'Our platform supports in diagnosing chronic health conditions and navigating specific stages as a woman, for example, support with fertility and family planning, after birth, and menopause,' she says. 'To date, my company has been entirely backed by angel investors. We have 68 angel investors in total, most of whom invested through special purpose vehicles, but with investments ranging from $1,000 up to $1 million.' The company has raised $4 million to date and opened a pre-series A funding round of $6 million to expand the platform and acquire new clinics in the UAE. Ms Smith lives with her four children and husband, a lawyer, in a villa in Al Barsha South. She has an MA Cantab (masters in history) from the University of Cambridge and an MBA from the Quantic School of Business and Technology. What was your first job and salary? I started as an analyst with Accenture and worked there for four years before leaving to found my first company. I started on a salary of £32,000 ($43,348) per year and it came with a golden handshake of £5,000, which felt like an absolute fortune for a new graduate in 2010. I was promoted to consultant after 14 months and was on track to be promoted to manager when I quit. I left because I wanted to chart my own growth curve. I had put part of my salary into Accenture's stock programme and by the time I left, I had about £25,000 saved. I took that money and put it into my first company, a health tech consultancy. What is your salary now? When I started work on Nabta Health, I closed down the businesses I had in the UK and was dependent on my husband and the salary he was drawing from his new job in Dubai in 2017. Nabta was self-funded in very small parts by me and my founding investor, to the tune of $92,000 over 15 to 18 months. Since we have raised capital in non-traditional ways, we've never had a significant amount of runway, and I have never felt comfortable with the notion of taking a salary because the company needs the money. I didn't take a salary for the first seven-and-a-half years of Nabta's life until we'd achieved product-market fit in July 2024. I attached myself to the company as the general manager and started to take a salary of Dh33,300 ($9,067) per month after we closed our first $1 million investment, plus an additional Dh12,200 per month which accrues and is paid out quarterly only if we hit our revenue targets. I took the salary for two months before reverting to 100 per cent accrual to support our runway. Not taking a salary has placed a huge financial strain on our family. When we came to the UAE, we had no children and now we have four. Our costs as a family have increased 300 per cent. Do you manage to save and invest? I had savings before I started my first business. But since then, I've put every penny into my companies. I have a small cryptocurrency account, a couple of savings accounts and a few investments in different start-ups that are mostly through sweat equity. I'm a firm believer in having a diversified portfolio of investments and putting your capital to work, especially as a woman. If I had more liquidity, I'd have a more structured investment portfolio. I would also invest into stocks, bonds and safer and more traditional asset classes. I hope to be able to invest in real estate at some point. In the next couple of years as Nabta continues to grow and stabilise us financially, when I'll be able to start taking a regular salary, I hope to put aside probably 10 per cent of that every month to invest into different asset classes. Do you have any debt? We have a couple of credit cards as a family and try to pay them off every month. At different points over the years, we have ended up taking out loans, usually secured against my husband's salary. Within the business, I've taken debt at various points. Growing up, were you taught how to handle your finances? I was not. My father was the sole breadwinner in a house with eight children and he took quite a lot of risks. He co-founded four schools, so he remortgaged our house to support these schools. He managed his finances very closely, but on the flip side, he gave my mom a hard time about money. Growing up, I remember thinking that I'm never going to be financially dependent on anybody. It was one of the reasons why I was so determined to start my own business. What are your major monthly expenses? Rent and school fees. My personal expenses and company overheads are separate. If my husband and I end up covering any of Nabta's expenses, which has occurred when cash flow has been tight, those are rigorously documented and paid back when the company can afford it. Do you have an emergency fund? Yes, our family's emergency fund can sustain us for three months. What do you spend your disposable income on? I spend it on things to manage my health. I take dancing lessons, run, get regular massages and buy new sports equipment every now and then. I also see a Chinese energetics practitioner once a quarter. Watch: Why expat salary packages are not what they used to be Do you worry about money? I worry a lot about money in the context of the company, specifically making payroll and the implications of financial instability of everybody we employ because I am their support system. In the context of my family, I worry about money less because of a very strong support base in the UK. If anything were to happen, we could go back and stay with my family for however long it takes us to normalise. What are your financial goals? Financial sustainability for the company, first and foremost. And then I would like to get to a position where I could sustain my family as a sole breadwinner. I never intended to be in a position where I was financially dependent on somebody. Everybody should enter adult life assuming they can be financially independent. There are all sorts of hidden power dynamics associated with money. In an increasingly volatile world, entering the workforce and adulthood on an even footing is a good thing. What is your idea of financial freedom? To be in a position where you aren't actively worrying about surviving day to day, either in a professional or personal context. I want my company to be able to capitalise on growth opportunities to hire the right people and pay them good money to create financial stability.


Zawya
5 hours ago
- Zawya
Rising AI-Driven Cyber Attacks and Geopolitical Tensions Shaping Asia Pacific Cyber Risk Landscape, Aon study
SINGAPORE - Media OutReach Newswire - 15 July 2025 - Aon plc (NYSE: AON), a leading global professional services firm, has released the Asia Pacific (APAC) findings from its 2025 Cyber Risk Report. The report underscores the increasing complexity of artificial intelligence (AI) driven cyber attacks and the prevalence of geopolitical tensions on cyber risks in the region. This report is based on Cyber Quotient Evaluation (CyQu) scores from 3,226 Aon clients in 2024 across APAC, EMEA, LATAM and North America, which analysed more than 1,400 global cyber events to identify trends in the evolving cyber threat landscape. The CyQu database benchmarks over 10,000 clients and has 20,000 client users. From these insights, the report signals that the APAC region is experiencing significant growth in cyber claims notifications, driven by the rising frequency and sophistication of cyber incidents. Geopolitical forces, such as trade tensions, territorial disputes and reconfigurations of the global supply chain, is shaping how APAC companies manage cyber risk. Key Findings: In the APAC region, cyber incident frequency rose 29 percent year-over-year and up 134 percent over the past four years (2020-2024). There was a 22 percent rise in cyber insurance claims notifications in 2024. The rise in AI-driven deepfake attacks resulted in a 53 percent increase in social engineering incidents year-over-year. Claims involving social engineering and fraud increased by 233 percent. Of the 1,414 global cyber events analysed, 56 developed into reputation risk events, which are defined as cyber incidents that attract significant public attention. Companies affected by these reputation risk events experienced an average shareholder value decline of 27 percent. Globally, malware and ransomware attacks were ranked most likely to trigger reputational damage, accounting for 60 percent of all reputation risk events, despite making up only 45 percent of total cyber incidents. "In 2025, global and regional geostrategic tensions remain a key driver of cyber risk for companies in APAC. This trend is likely to accelerate with nation-state-backed threat actors continuing to employ cyber campaigns to facilitate conflicts or instigate grey-zone operations for the purposes of economic coercion, corporate espionage, or to harm regional rivals by targeting strategically important economic infrastructure," said Adam Peckman, head of risk consulting and cyber solutions in APAC and global head of cyber risk consulting at Aon. "As cyber threats grow more complex and interconnected, companies need a clearer view of their exposure, stronger alignment between cyber security and insurance strategies, and the tools to make better, data-driven decisions." Aon's 2025 Cyber Risk Report draws on proprietary data from the firm's CyQu platform, a patented global e-submission tool that streamlines the cyber insurance intake process and empowers organisations with actionable insights into their cyber exposures and insurability, helping to strengthen both underwriting outcomes and cyber risk management strategies. The APAC insights from the Aon's 2025 Cyber Risk Report can be found here. Hashtag: #Aon The issuer is solely responsible for the content of this announcement. About Aon Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses. Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon's newsroom and sign up for news alerts here. Disclaimer The information contained in this document is solely for information purposes, for general guidance only and is not intended to address the circumstances of any particular individual or entity. Although Aon endeavours to provide accurate and timely information and uses sources that it considers reliable, the firm does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of any content of this document and can accept no liability for any loss incurred in any way by any person who may rely on it. T here can be no guarantee that the information contained in this document will remain accurate as on the date it is received or that it will continue to be accurate in the future. No individual or entity should make decisions or act based solely on the information contained herein without appropriate professional advice and targeted research. Aon


Khaleej Times
5 hours ago
- Khaleej Times
'A blessing': UAE motorists say 'long-awaited' Emirates Road upgrade will help save time
UAE residents expressed gratitude as the country announced a Dh750-million upgrade to Emirates Road. The infrastructure development promises to transform one of the country's most congested traffic corridors. The project will focus on upgrading the critical Intersection No. 7 in Sharjah through widening roads, and the construction of six bridges. The move was met with enthusiasm from daily commuters who have long endured traffic delays on this vital route connecting the eastern, central, and northern cities to Dubai and Abu Dhabi. Mohammed Al Hammadi, a Sharjah resident who travels weekly between Sharjah and Abu Dhabi, described the project as a 'blessing' that will significantly improve his commuting experience. 'I use this street and intersection frequently because I travel between Sharjah and Abu Dhabi weekly,' Al Hammadi said. 'May God reward our sheikhs and our distinguished government for this project.' Al Hammadi emphasised the strategic importance of the intersection, noting that 'it connects all the cities of the country. Those coming from the eastern, central, and northern cities pass through this intersection towards Dubai and Abu Dhabi, as well as towards the interior of Sharjah city.' 'The project will have a great impact on people and will bring them happiness, shorten travel time, and help save at least an hour during peak hours — morning commute and afternoon return,' he added. Residents praise infrastructure investment Abdullah Al Shaer, a resident of the Al Zubair area in Sharjah who uses the route daily, echoed similar sentiments about the project's potential benefits. 'I use the road daily, and of course it is considered the best option to reach Dubai and the capital Abu Dhabi,' Al Shaer stated. He described the upgrade as 'a positive and important step to improve traffic flow and enhance quality of life,' while expressing hopes that 'the expansion works will be according to the highest standards and implemented with the least possible impact on drivers.' Mohammed Ahmed Al Dhahoori, a member of the Advisory Council of Sharjah, expressed particular satisfaction with the project's announcement, describing it as a 'vital project that has been long awaited for years.' He noted that the project, which will begin implementation in September and continue for two years, comes after 'many continuous demands from road users, persistence, waiting, and follow-up by our wise leadership.' Al Dhahoori extended appreciation to the UAE's leadership for prioritising infrastructure development. 'I would like to express a word of thanks, appreciation, and gratitude to our wise government and to the officials and their work teams who are responsible for these vital projects that serve the country, for the great efforts they make to develop projects, care for them, and their diligent follow-up,' he stated. Meanwhile, another road user, Reem Hasan from Sharjah said "this expansion will save me a lot of time as I and my family use this road often to commute to Dubai." The Emirates Road upgrade project, announced by the Ministry of Energy and Infrastructure, represents one of the most significant infrastructure investments in the region's transportation network. The 25km project will begin at the Al Badi intersection and extend to Umm Al Quwain, with construction scheduled to commence in September 2025. Key features of the project include: The project is expected to reduce travel time by 45 per cent and increase road capacity by 65 per cent, addressing one of the most persistent traffic bottlenecks in the UAE's federal road network. For many residents, the promised reduction in travel time will translate into more time with family and reduced stress from traffic congestion.